By Will Feuer
Toro Co. warned that current geopolitical tensions could pose a challenge to the company. Therefore, Toro decided to keep its adjusted 2022 earnings guidance.
The Bloomington-based maker of lawnmowers and other equipment raised its full year sales guidance to grow between 12% to 14% to reflect Intimidator Group’s acquisition. Toro previously projected that sales would rise between 8% and 10% in fiscal 2022.
Due to the current geopolitical climate, the company stated that it will maintain its adjusted earnings guidance of $3.90 per share to $4.10 per share. The company did not mention Russia’s invasion in Ukraine, but many businesses have warned of the potential impact on operating conditions from the conflict and subsequent international sanctions.
“While we are noticing improvements in our manufacturing performance and positive indicators in the supply chain, we recognize that recent geopolitical developments may create additional difficulties,” Richard Olson, Chairman, Chief Executive.
Write to Will Feuer, [email protected]